Purchaser's Claim for Rescission Denied Due to Failure to Perform Deed Obligation
Synthèse Legislator
Généré par l'IAA purchaser of property who was obligated by the deed to perform certain work on the premises, but failed to do so, sought to have the sale canceled, arguing that the obligation was either for the benefit of the seller or that the non-performance constituted a resolutory condition; however, the court upheld the lower court's decision denying rescission, reasoning that the obligation imposed on the buyer was not a resolutory condition as it lacked the necessary clear contractual provision making the contract void upon non-performance, and the seller's remedy for the buyer's failure to perform the agreed-upon work was a claim for damages, not dissolution of the sale.
Regeste Legislator
Généré par l'IAPurchaser's Claim for Rescission Denied Due to Failure to Perform Deed Obligation: A purchaser of property who was obligated by the deed to perform certain work on the premises, but failed to do so, sought to have the sale canceled, arguing that the obligation was either for the benefit of the seller or that the non-performance constituted a resolutory condition; however, the court upheld the lower court's decision denying rescission, reasoning that the obligation imposed on the buyer was not a resolutory condition as it lacked the necessary clear contractual provision making the contract void upon non-performance, and the seller's remedy for the buyer's failure to perform the agreed-upon work was a claim for damages, not dissolution of the sale.